Small Businesses Expect a Recession in 2023 » CBIA

Nearly two-thirds of small businesses and midsize firms anticipate a recession in 2023, with many reevaluating their approaches to prepare, according to a new survey. 

JPMorgan Chase’s newly released annual Business Leaders Outlook survey reflects how businesses are faring, and highlights the growing impact of inflation and workforce challenges. 

The report also offers recommendations that businesses can implement to further prepare for an economic downturn. 

“Businesses are signaling that they’re practiced in being nimble and prepared for several different scenarios, which are keys to operating effectively in today’s economy,” JPMorgan Chase head of middle market banking and specialized industries John Simmons said.

Economic Outlook

The survey found that business optimism depends heavily on the size of a company, despite similar challenges. 

The survey found a mere…

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